Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Its Boston Options Exchange Trading Rules Regarding the Extension of a Pilot Program That Increases the Standard Position and Exercise Limits for Certain Options Traded, 52833-52835 [E6-14792]
Download as PDF
<![CDATA[
Federal Register / Vol. 71, No. 173 / Thursday, September 7, 2006 / Notices
the date of filing.12 However, Rule 19b–
4(f)(6)(iii) 13 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange provided the Commission
with written notice of its intent to file
this proposed rule change at least five
business days prior to the date of filing
the proposed rule change. In addition,
the Exchange has requested that the
Commission waive the 30-day preoperative delay. The Commission
believes that waiving the 30-day preoperative delay is consistent with the
protection of investors and in the public
interest because it will allow the Pilot
Program to continue uninterrupted.14
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
No. SR–Amex–2006–75 on the subject
line.
rwilkins on PROD1PC63 with NOTICES
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE,
Washington, DC 20549–1090.
All submissions should refer to File No.
SR–Amex–2006–75. This file number
should be included on the subject line
if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
12 17
CFR 240.19b–4(f)(6)(iii).
13 Id.
14 For purposes only of waiving the pre-operative
delay, the Commission has considered the proposed
rule’s impact on efficiency, competition, and capital
formation. 15 U.S.C. 78c(f).
VerDate Aug<31>2005
18:11 Sep 06, 2006
Jkt 208001
52833
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room. Copies of such filing will also be
available for inspection and copying at
the principal office of the Amex. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File No.
SR–Amex–2006–75 and should be
submitted on or before September 28,
2006.
Act 3 and Rule 19b–4(f)(6) thereunder,4
which renders it effective upon filing
with the Commission. The Commission
is publishing this notice to solicit
comments on the proposed rule change
from interested persons.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
Nancy M. Morris,
Secretary.
[FR Doc. E6–14794 Filed 9–6–06; 8:45 am]
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54388; File No. SR–BSE–
2006–32]
Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change Relating to Its
Boston Options Exchange Trading
Rules Regarding the Extension of a
Pilot Program That Increases the
Standard Position and Exercise Limits
for Certain Options Traded
August 30, 2006.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
18, 2006, the Boston Stock Exchange,
Inc. (‘‘BSE’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the BSE. The
Exchange has filed the proposal as a
‘‘non-controversial’’ rule change
pursuant to Section 19(b)(3)(A) of the
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00075
Fmt 4703
Sfmt 4703
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The BSE proposes to amend the rules
of the Boston Options Exchange
(‘‘BOX’’), an options trading facility of
the BSE, to extend its current pilot
program to increase the standard
position and exercise limits for equity
option contracts and options on the
Nasdaq–100 Index Tracking Stock
(‘‘QQQQ’’) (‘‘Pilot Program’’). The text
of the proposed rule change is available
on the BSE’s Web site (https://
www.bostonstock.com), at the BSE’s
principal office, and at the
Commission’s Public Reference Room.
In its filing with the Commission, the
BSE included statements concerning the
purpose of and basis for the proposed
rule change and discussed any
comments it received on the proposed
rule change. The text of these statements
may be examined at the places specified
in Item IV below. The Exchange has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Pilot Program provides for an
increase to the standard position and
exercise limits for equity option
contracts and for options on QQQQs for
a six-month period.5 Specifically, the
Pilot Program increased the applicable
position and exercise limits for equity
3 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
5 The Pilot Program, which commenced on March
3, 2005, was extended on August 15, 2005 and
February 22, 2006, and is set to expire on
September 1, 2006. See Securities Exchange Act
Release Nos. 51317 (March 3, 2005), 70 FR 12254
(March 11, 2005) (notice of filing and immediate
effectiveness of File No. SR–BSE–2005–10) (‘‘Pilot
Program Notice’’); 52264 (August 15, 2005), 70 FR
48992 (August 22, 2005) (notice of filing and
immediate effectiveness of File No. SR–BSE–2005–
37, which extended the Pilot Program); and 53347
(February 22, 2006), 71 FR 10573 (March 1, 2006)
(notice of filing and immediate effectiveness of File
No. SR–BSE–2006–07, which extended the Pilot
Program).
4 17
E:\FR\FM\07SEN1.SGM
07SEN1
52834
Federal Register / Vol. 71, No. 173 / Thursday, September 7, 2006 / Notices
options and options on the QQQQ to the
following levels:
Pilot program equity option contract limit6
Pilot program equity option contract limit
13,500
22,500
31,500
60,000
75,000
25,000
50,000
75,000
200,000
250,000
Current QQQQ option contract limit
Pilot program QQQQ option contract limit
300,000
900,000
The Exchange believes that extending
the Pilot Program for six months is
warranted due to positive feedback from
members and for the reasons cited in the
original rule filing that proposed the
adoption of the Pilot Program.7 In
addition, BOX has not encountered any
problems or difficulties relating to the
Pilot Program since its inception. For
these reasons, the BSE requests that the
Commission extend the Pilot Program
for an additional six months, through
and including March 1, 2007.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,8 in general, and furthers the
objective of Section 6(b)(5) of the Act,9
in particular, in that it is designed to
promote just and equitable principles of
trade and to protect investors and the
public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition.
rwilkins on PROD1PC63 with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change
does not: (1) Significantly affect the
protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for 30 days from the date of
this filing, or such shorter time as the
when the Pilot Program is in effect.
Pilot Program Notice, supra note 5.
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(5).
Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 10 and Rule 19b–
4(f)(6) thereunder.11
A proposed rule change filed under
Rule 19b–4(f)(6) normally may not
become operative prior to 30 days after
the date of filing.12 However, Rule 19b–
4(f)(6)(iii) 13 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange provided the Commission
with written notice of its intent to file
this proposed rule change at least five
business days prior to the date of filing
the proposed rule change. In addition,
the Exchange has requested that the
Commission waive the 30-day preoperative delay. The Commission
believes that waiving the 30-day preoperative delay is consistent with the
protection of investors and in the public
interest because it will allow the Pilot
Program to continue uninterrupted.14
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
6 Except
10 15
7 See
11 17
VerDate Aug<31>2005
19:26 Sep 06, 2006
Jkt 208001
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
13 Id.
PO 00000
Frm 00076
Fmt 4703
Sfmt 4703
• Send an e-mail to rulecomments@sec.gov. Please include File
No. SR–BSE–2006–32 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE,
Washington, DC 20549–1090.
All submissions should refer to File No.
SR–BSE–2006–32. This file number
should be included on the subject line
if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room. Copies of such filing will also be
available for inspection and copying at
the principal office of the BSE. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File No.
SR–BSE–2006–32 and should be
submitted on or before September 28,
2006.
14 For purposes only of waiving the pre-operative
delay, the Commission has considered the proposed
rule’s impact on efficiency, competition, and capital
formation. 15 U.S.C. 78c(f).
E:\FR\FM\07SEN1.SGM
07SEN1
Federal Register / Vol. 71, No. 173 / Thursday, September 7, 2006 / Notices
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
Nancy M. Morris,
Secretary.
[FR Doc. E6–14792 Filed 9–6–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54383; File No. SR–CBOE–
2006–75]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Inc.; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change Relating to the Extension of Its
Dividend, Merger, and Short Stock
Interest Strategies Fee Cap Pilot
Program
August 30, 2006.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
29, 2006, the Chicago Board Options
Exchange, Inc. (‘‘CBOE’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which items have
been prepared by CBOE. CBOE has
designated the proposed rule change as
one establishing or changing a due, fee,
or other charge, pursuant to Section
19(b)(3)(A)(ii) of the Act 3 and Rule 19b–
4(f)(2) thereunder,4 which renders the
proposal effective upon filing with the
Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
rwilkins on PROD1PC63 with NOTICES
CBOE proposes to amend its Fees
Schedule to extend until March 1, 2007,
the dividend, merger and short stock
interest strategies fee cap program. The
text of the proposed rule change is
available on CBOE’s Web site at
https://www.cboe.com, at the Office of
the Secretary at CBOE, and at the
Commission’s Public Reference Room.
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
VerDate Aug<31>2005
18:11 Sep 06, 2006
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change and discussed
any comments it received on the
proposal. The text of these statements
may be examined at the places specified
in Item IV below. The Exchange has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange currently caps marketmaker, firm, and broker-dealer
transaction fees associated with
dividend, merger and short stock
interest strategies, as described in
Footnote 13 of the CBOE Fees Schedule
(‘‘Strategy Fee Cap’’). The Strategy Fee
Cap is in effect as a pilot program that
is due to expire on September 1, 2006.
The Exchange proposes to extend the
Strategy Fee Cap program until March 1,
2007. No other changes are proposed.
The Exchange believes that extension of
the Strategy Fee Cap program should
attract additional liquidity and permit
the Exchange to remain competitive for
these types of strategies.
2. Statutory Basis
The Exchange believes that its
proposal to amend its schedule of fees
is consistent with Section 6(b) of the
Act 5 in general, and furthers the
objectives of Section 6(b)(4) of the Act 6
in particular, in that it is designed to
provide for the equitable allocation of
reasonable dues, fees, and other charges
among CBOE members and other
persons using its facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received on the proposed rule
change.
5 15
6 15
Jkt 208001
PO 00000
Frm 00077
Fmt 4703
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act 7 and
subparagraph (f)(2) of Rule 19b–4
thereunder 8 because it establishes or
changes a due, fee, or other charge. At
any time within 60 days of the filing of
the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–CBOE–2006–75 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–CBOE–2006–75. This file
number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
7 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
8 17
Sfmt 4703
52835
E:\FR\FM\07SEN1.SGM
U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
07SEN1
]]>Agencies
[Federal Register Volume 71, Number 173 (Thursday, September 7, 2006)]
[Notices]
[Pages 52833-52835]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-14792]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-54388; File No. SR-BSE-2006-32]
Self-Regulatory Organizations; Boston Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to Its Boston Options Exchange Trading Rules Regarding the
Extension of a Pilot Program That Increases the Standard Position and
Exercise Limits for Certain Options Traded
August 30, 2006.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 18, 2006, the Boston Stock Exchange, Inc. (``BSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the BSE. The Exchange has
filed the proposal as a ``non-controversial'' rule change pursuant to
Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6) thereunder,\4\
which renders it effective upon filing with the Commission. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The BSE proposes to amend the rules of the Boston Options Exchange
(``BOX''), an options trading facility of the BSE, to extend its
current pilot program to increase the standard position and exercise
limits for equity option contracts and options on the Nasdaq-100 Index
Tracking Stock (``QQQQ'') (``Pilot Program''). The text of the proposed
rule change is available on the BSE's Web site (https://
www.bostonstock.com), at the BSE's principal office, and at the
Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the BSE included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Pilot Program provides for an increase to the standard position
and exercise limits for equity option contracts and for options on
QQQQs for a six-month period.\5\ Specifically, the Pilot Program
increased the applicable position and exercise limits for equity
[[Page 52834]]
options and options on the QQQQ to the following levels:
---------------------------------------------------------------------------
\5\ The Pilot Program, which commenced on March 3, 2005, was
extended on August 15, 2005 and February 22, 2006, and is set to
expire on September 1, 2006. See Securities Exchange Act Release
Nos. 51317 (March 3, 2005), 70 FR 12254 (March 11, 2005) (notice of
filing and immediate effectiveness of File No. SR-BSE-2005-10)
(``Pilot Program Notice''); 52264 (August 15, 2005), 70 FR 48992
(August 22, 2005) (notice of filing and immediate effectiveness of
File No. SR-BSE-2005-37, which extended the Pilot Program); and
53347 (February 22, 2006), 71 FR 10573 (March 1, 2006) (notice of
filing and immediate effectiveness of File No. SR-BSE-2006-07, which
extended the Pilot Program).
\6\ Except when the Pilot Program is in effect.
------------------------------------------------------------------------
Pilot program equity option Pilot program equity option
contract limit6 contract limit
------------------------------------------------------------------------
13,500 25,000
22,500 50,000
31,500 75,000
60,000 200,000
75,000 250,000
------------------------------------------------------------------------
CurrenPilot program QQQQ option contract
limit
------------------------------------------------------------------------
300,000 900,000
------------------------------------------------------------------------
6 Except when the Pilot Program is in effect.
The Exchange believes that extending the Pilot Program for six
months is warranted due to positive feedback from members and for the
reasons cited in the original rule filing that proposed the adoption of
the Pilot Program.\7\ In addition, BOX has not encountered any problems
or difficulties relating to the Pilot Program since its inception. For
these reasons, the BSE requests that the Commission extend the Pilot
Program for an additional six months, through and including March 1,
2007.
---------------------------------------------------------------------------
\7\ See Pilot Program Notice, supra note 5.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\8\ in general, and furthers the objective of Section
6(b)(5) of the Act,\9\ in particular, in that it is designed to promote
just and equitable principles of trade and to protect investors and the
public interest.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change does not: (1) Significantly
affect the protection of investors or the public interest; (2) impose
any significant burden on competition; and (3) become operative for 30
days from the date of this filing, or such shorter time as the
Commission may designate, it has become effective pursuant to Section
19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) normally may
not become operative prior to 30 days after the date of filing.\12\
However, Rule 19b-4(f)(6)(iii) \13\ permits the Commission to designate
a shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange provided the Commission
with written notice of its intent to file this proposed rule change at
least five business days prior to the date of filing the proposed rule
change. In addition, the Exchange has requested that the Commission
waive the 30-day pre-operative delay. The Commission believes that
waiving the 30-day pre-operative delay is consistent with the
protection of investors and in the public interest because it will
allow the Pilot Program to continue uninterrupted.\14\
---------------------------------------------------------------------------
\12\ 17 CFR 240.19b-4(f)(6)(iii).
\13\ Id.
\14\ For purposes only of waiving the pre-operative delay, the
Commission has considered the proposed rule's impact on efficiency,
competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File No. SR-BSE-2006-32 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE, Washington, DC 20549-1090.
All submissions should refer to File No. SR-BSE-2006-32. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room. Copies of such
filing will also be available for inspection and copying at the
principal office of the BSE. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File No. SR-BSE-2006-32 and should be submitted on or before September
28, 2006.
[[Page 52835]]
For the Commission, by the Division of Market Regulation, pursuant
to delegated authority.\15\
---------------------------------------------------------------------------
\15\ 17 CFR 200.30-3(a)(12).
Nancy M. Morris,
Secretary.
[FR Doc. E6-14792 Filed 9-6-06; 8:45 am]
BILLING CODE 8010-01-P
